IGC has deteriorated its global grain yield estimate

The latest estimate from the London-based organization is that world grain production will be 2,210 million tonnes by the end of June, 9 million tonnes lower than expected in November. The IGC pointed out that, compared with its November estimate, corn yields are declining more significantly in the United States, Argentina and Brazil, which is only partially offset by higher wheat yields in Australia, Canada and Russia, and higher barley yields in Argentina and Canada. (MTI)